Use Your Refund to Reduce Future Debt
Tax season is here, and while this year may be atypical, people are often split into two camps: those who dread the paperwork and those who are excited at the idea of receiving a tax refund. Some people will put their refund toward something fun, like a vacation, while others will use it to pay off bills or contribute to a major goal, like a new home. Here’s another option to consider—use it to fund a 529 plan.
With the cost of education continuing to rise, starting early and saving often can mean the difference between earning interest or paying it, being in debt or starting the next stage of life debt-free. The first step is to open a 529 plan and begin saving for future education costs.